www.varchev.com

"Under Armour" vs "Nike" for Stephen Curry....

Rating:

12345
Loading...

Under Armour's bet on Stephen Curry has proved to be a genius one.

Curry is the reigning MVP on the NBA's best team, the Golden State Warriors, he's the new face of the league, and, according to a Morgan Stanley analyst, worth perhaps $14 billion to Under Armour.

But before Under Armour signed Curry in 2013, he was a Nike athlete.

ESPN's Ethan Strauss gave an in-depth look about how Under Armour stole Curry — or how Nike lost him — and reveals some embarrassing details about Nike's presentation to Curry when he was a sneaker-free agent in 2013.

First, according to Strauss, Curry was already feeling slighted by Nike. Curry hoped to be given a youth basketball camp, like many of the NBA's biggest stars, but didn't get one. When it came to the meeting, Nike dropped the ball by mispronouncing Curry's first name and messing up a slide in a presentation:

The pitch meeting, according to Steph's father Dell, who was p2530d0dresent, kicked off with one Nike official accidentally addressing Stephen as "Steph-on," the moniker, of course, of Steve Urkel's alter ego in Family Matters. "I heard some people pronounce his name wrong before," says Dell Curry. "I wasn't surprised. I was surprised that I didn't get a correction."

It got worse from there. A PowerPoint slide featured Kevin Durant's name, presumably left on by accident, presumably residue from repurposed materials. "I stopped paying attention after that," Dell says. Though Dell resolved to "keep a poker face," throughout the entirety of the pitch, the decision to leave Nike was in the works.

According to Dell, it was also clear that Nike was placing Curry in a category below their top stars like LeBron James, Kevin Durant, and Kobe Bryant.

Few people saw Curry's rise coming, and it's possible that Nike didn't value Curry as highly as their other superstars. When Under Armour, after wiggling their way into Curry's view, as Strauss explains, offered a contract worth a little under $4 million a year, Nike didn't match.

Now, Under Armour, which boasts an impressive collection of athletes, is coming after Nike, and Curry is leading the charge. Sonny Vaccaro, a former sports-marketing executive who worked with Nike, told Strauss of Nike losing Curry, "This is Nike's biggest fear. They can't overcome this in the shoe business. This is going to be detrimental to them. Psychologically."


 Varchev Traders
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance

London


25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256

Universal numbers

World Financial Markets - 0700 17 600    Varchev Exchange - 0700 115 44

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.


Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

chat with dealer
chat with dealer
Cookies policy